| Authorities have requested that Agoda, Airbnb, Booking, and PayPal comply with Vietnamese law and register for taxes after years of operating in the country. — VNA/VNS Photo |
The General Department of Taxation under the Ministry of Finance has requested 100 banks and payment intermediaries to declare, withhold and remit taxes on behalf of transactions conducted with Agoda, Airbnb, Booking, and PayPal.
According to the general department, these four digital e-commerce platforms have operated in Việt Nam for years but have failed to register for tax purposes via the tax authority’s electronic portal.
Agoda, Airbnb, Booking and PayPal do not have permanent bases in Việt Nam but have been generating income from providing services to
Vietnamese consumers. Consequently, these providers are classified as foreign contractors and are subject to value-added tax (VAT) and corporate income tax, calculated as a percentage of their revenue.
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